“Mr. Chen, there are only a few days left until the August settlement. Why would international hedge funds take such a risk in such a short time?” Yang Fugui asked directly.
"You know futures contracts are settled at the end of the month. Aren't they afraid they won't be able to get their borrowed stocks back?"
Upon hearing this, the fire that had been burning inside Chen Dong ignited instantly. "It's one thing if international hedge funds won't do that, it's another thing if we're prepared."
"Director Yang, why are you being so dismissive today? It's as if whatever international hedge funds do is none of your business."
Touched by Chen Dong's words on the other end of the phone, Yang Fugui quickly sat up straight, calmed his voice, and said seriously, "Who said I was being perfunctory? Dealing with international hedge funds is a long-term battle, so we can't be in such a hurry."
Chen Dong was so provoked that he lost his temper. "Soros already knows that this time the market is being supported by private capital, without any government backing. Their next attack will definitely be even more unscrupulous."
"Director Yang, let me make this clear: if the authorities don't introduce policies to regulate stock market trading, even if we join forces with the four major families and empty our coffers, we still won't be able to compete with the global financial giants and international speculators."
Restraint means interference with freedom.
Upon hearing this, Yang Fugui felt as if he had been struck by lightning. "You... Chen Sheng, I never expected you to say such a thing."
"The principles of a free economy are the long-standing guidelines that the Hong Kong government has adhered to as an international financial center. Besides, policies can't be changed overnight."
At this point, Yang Fugui also felt very aggrieved, "If our free market could be subject to constraints and intervention, then I wouldn't have invited you and the four major families to help prop up the market in the first place."
Chen Dong was tired of his official jargon and just wanted a clear answer from him.
"Director Yang, if the Hong Kong authorities are not vigilant in the face of the frenzied short-selling by international hedge funds, then no matter how much private capital participates in market support, it will only be throwing money into a black hole."
Yang Fugui naturally understood this principle as well. He said with difficulty, "You know, Soros's previous attack on us for interfering with the free market was a complete farce. According to the principles of Hong Kong's free market, we cannot restrict their normal business behavior under any circumstances."
In Chen Dong's view, the talks had broken down by this point.
"Yang Fugui!" he called him by his full name. "You should know that I've invested so much money, which has been quite helpful in supporting the Hong Kong stock market. How come it's worthless in your eyes?"
Chen Dong said disappointedly, "If you don't want to help us, that's fine too. We can just short the market next month. Anyway, international speculators are now joining forces to short the Hong Kong stock index. With Soros's methods, I don't have to do anything to reap the benefits."
"Chen Sheng!" Yang Fugui stood up in surprise. "You're not joking about something like this!"
Chen Dong chuckled sinisterly, "I'm not joking. People are selfish. You expect me to give everything while you do nothing yourself. Is that even a transaction?"
“We…” Yang Fugui composed himself and said, pretending to be calm, “Mr. Chen, we’ve already agreed on how the Hong Kong Monetary Authority will cooperate and what actions they will take regarding our activities in the stock market.”
Are you going to breach the contract?
Faced with such shameless behavior, Chen Dong was prepared: "A verbal agreement."
"It has no legal effect." He also followed Yang Fugui's example and beat around the bush.
If Chen Dong were to short sell, with his current massive amount of capital, he would still become a powerful ally of the Soros Group. Yang Fugui had no choice but to change his demeanor and say with a grin:
"Mr. Chan, I will meet with the Chief Executive of Hong Kong tomorrow with the Chief Executive of the Hong Kong Monetary Authority to discuss how to introduce relevant regulatory strategies."
"Don't act rashly yet, wait for our news."
Hearing his statement, Chen Dong finally breathed a sigh of relief and said slowly, "You should think this through."
It's important to know that since Chen Dong's offshore company started raising funds in August, all the securities companies and brokerage firms related to Longteng have been holding shares worth tens of billions of yuan.
In particular, Chen Dong currently holds the largest percentage of shares in HSBC Holdings.
This also means that Chen Dong has become a veritable financial tycoon in Hong Kong, and is of great importance to the stock market. Moreover, the Hong Kong stock market is currently facing external attacks, and if Chen Dong takes any action, it will inevitably have far-reaching consequences.
Yang Fugui was silent for a few seconds on the other end of the phone, then gritted his teeth and said, "Give me some more time. Even if the relevant government departments want to formulate new policies to restrict international speculators, we still need to go through procedures to get things done between the various levels of government departments."
“I can give you time, but Soros won’t, nor will those international speculative funds that roam Hong Kong shorting the market.” Chen Dong gave his final warning. “Time is running out, Director Yang.”
"The future of Hong Kong rests in the hands of President Du and Director Yang. You two must not disappoint me."
After Chen Dong hung up the phone, he lowered his head slightly, and Lin Zhiyuan immediately took two steps forward and asked, "Go ahead and say it."
"Have Chen Jianlin release the news that the Hong Kong authorities have never participated in the market rescue, and that the ones who previously participated in the market rescue and raised the Hang Seng Index were Hong Kong private capital." Chen Dong's throat moved slightly, as if he had made up his mind.
Lin Zhiyuan looked bewildered. "Doing this... wouldn't that be betraying the Monetary Authority and the Financial Secretary?"
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